Oppenheimer & Co. Inc. Sells 21,178 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Oppenheimer & Co. Inc. cut its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 356,891 shares of the company’s stock after selling 21,178 shares during the period. Oppenheimer & Co. Inc.’s holdings in Warner Bros. Discovery were worth $2,944,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Warner Bros. Discovery by 2.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,609,542 shares of the company’s stock valued at $38,029,000 after purchasing an additional 106,372 shares during the last quarter. Apollon Wealth Management LLC increased its holdings in Warner Bros. Discovery by 96.8% during the third quarter. Apollon Wealth Management LLC now owns 53,719 shares of the company’s stock worth $443,000 after buying an additional 26,421 shares during the last quarter. Versor Investments LP bought a new stake in Warner Bros. Discovery in the third quarter worth about $93,000. Mesirow Financial Investment Management Inc. boosted its stake in Warner Bros. Discovery by 109.9% in the third quarter. Mesirow Financial Investment Management Inc. now owns 32,830 shares of the company’s stock valued at $271,000 after acquiring an additional 17,187 shares during the last quarter. Finally, Atria Investments Inc grew its position in shares of Warner Bros. Discovery by 31.9% during the 3rd quarter. Atria Investments Inc now owns 98,062 shares of the company’s stock valued at $809,000 after acquiring an additional 23,697 shares during the period. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Down 6.5 %

WBD stock opened at $9.22 on Friday. The company’s 50 day moving average is $8.10 and its 200 day moving average is $7.88. The stock has a market cap of $22.61 billion, a price-to-earnings ratio of -2.01 and a beta of 1.48. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter in the prior year, the firm earned ($0.17) EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. Sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on WBD. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. TD Cowen dropped their price target on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Benchmark reissued a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a report on Friday, September 13th. Moffett Nathanson dropped their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $10.55.

Warner Bros. Discovery Profile

Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.